Solas Capital Management LLC Has $1.84 Million Position in Sportsman's Warehouse Holdings, Inc. $SPWH

Key Points

• Solas Capital Management LLC increased its stake in Sportsman's Warehouse by 67.3%, acquiring an additional 744,954 shares to hold a total of 1,852,091 shares, which represents about 1.0% of its investment portfolio.
• Sportsman's Warehouse reported a quarterly earnings per share of ($0.41), beating analysts' estimates by $0.07, and the firm's revenue reached $249.10 million, exceeding predictions of $238.25 million.
• Institutional investors own approximately 83.04% of Sportsman's Warehouse shares, highlighting significant institutional interest in the company.

Solas Capital Management LLC lifted its position in shares of Sportsman's Warehouse Holdings, Inc. (NASDAQ:SPWH - Free Report) by 67.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,852,091 shares of the company's stock after acquiring an additional 744,954 shares during the quarter. Sportsman's Warehouse makes up about 1.0% of Solas Capital Management LLC's investment portfolio, making the stock its 19th largest position. Solas Capital Management LLC owned approximately 4.84% of Sportsman's Warehouse worth $1,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. bought a new stake in shares of Sportsman's Warehouse during the fourth quarter worth $33,000. Mink Brook Asset Management LLC bought a new stake in shares of Sportsman's Warehouse during the fourth quarter worth $41,000. R Squared Ltd raised its position in shares of Sportsman's Warehouse by 153.2% during the first quarter. R Squared Ltd now owns 31,170 shares of the company's stock worth $31,000 after acquiring an additional 18,860 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Sportsman's Warehouse by 5,348.5% during the fourth quarter. JPMorgan Chase & Co. now owns 78,186 shares of the company's stock worth $209,000 after acquiring an additional 76,751 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Sportsman's Warehouse by 255.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 83,930 shares of the company's stock worth $224,000 after acquiring an additional 60,308 shares during the last quarter. Institutional investors own 83.04% of the company's stock.

Sportsman's Warehouse Trading Up 13.8%

NASDAQ:SPWH traded up $0.37 on Thursday, reaching $3.01. The company's stock had a trading volume of 1,262,847 shares, compared to its average volume of 1,309,033. Sportsman's Warehouse Holdings, Inc. has a 1-year low of $0.92 and a 1-year high of $4.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 1.17. The firm has a market cap of $115.15 million, a PE ratio of -3.13 and a beta of 0.65. The business's 50-day moving average price is $3.26 and its two-hundred day moving average price is $2.35.

Sportsman's Warehouse (NASDAQ:SPWH - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.07. The company had revenue of $249.10 million during the quarter, compared to analysts' expectations of $238.25 million. Sportsman's Warehouse had a negative return on equity of 7.65% and a negative net margin of 3.01%.During the same period in the prior year, the firm earned ($0.47) earnings per share. Equities research analysts anticipate that Sportsman's Warehouse Holdings, Inc. will post -0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPWH has been the subject of a number of recent analyst reports. B. Riley reiterated a "buy" rating and issued a $4.00 price objective (up previously from $3.00) on shares of Sportsman's Warehouse in a report on Wednesday, June 4th. Roth Capital upped their price objective on Sportsman's Warehouse from $3.00 to $4.25 and gave the company a "buy" rating in a report on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Sportsman's Warehouse has a consensus rating of "Buy" and a consensus target price of $3.44.

Sportsman's Warehouse Profile

Sportsman's Warehouse Holdings, Inc engages in the retail of sporting and athletic goods. Its products include hunting and shooting, archery, fishing, camping, boating accessories, optics and electronics, knives and tools, and footwear. The company was founded in 1986 and is headquartered in West Jordan, UT.